SGX NIFTY signals a positive start for the Indian Stock Market
- Nifty futures on the Singapore Exchange traded 41 points, higher at 18,062 signalling that the Indian Stock Market is headed for a positive start.
Bulls take charge in the Global Markets
- Major indices of the American State ended in green, thanks to the retail sales data which displayed an increase nearly after 2-years. Along with the retail data, dollar and Treasury yeilds also displayed an increase, signalling starting signs of a recovering economy. Dow Jones added 0.11% while NASDAQ surged 0.92% to end the day. Asian Indices reacted positively to the American retail data by starting off on a positive note.
No reason to buy on a potential gap up of 75 points. Derivative data does not support this move. We would prefer to wait rather than enter with FOMO on our mind. Make money using our bank nifty option tips and start trading like a pro trader.
Nifty has entered expansion phase after 2 weeks of contraction.
Our issue is with the overall structure! Moving averages are not aligned for a bull market. So, we would rather wait for a pullback till 17800 (pivot) and monthly VWAP to think about longs.
Profit booking is expected after this gap up.
Exports dip for India
- According to the data released by the Ministry of Commerce; yesterday, India's exports have dipped by nearly 7% pn a Y-o-Y basis to $32.91 Billion as against $35.23 Billion for the same quarter a year ago.
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